A century on, the transition from Morgan Dollar to Peace Dollar is marked with a new silver coin celebration

The first standard silver coin minted by the United States Government since the passing of the 1873 Coinage Act, the Morgan dollar was a 0.900 silver unit of 26.73 grams total weight. Named after its designer, George T. Morgan, it was struck from 1878 to 1904, but came back for a single run in 1921. On one face of the coin sits Liberty, and on the other, an eagle with outstretched wings, much like the one of the obverse of the modern American Eagle bullion coin.

In 1921, it was replaced by the Peace Dollar, which was minted until 1928, coming back for further runs in 1934 and 1935. Identical in size and weight, it was also very close in concept, although differing in detail. Designed by Anthony de Francisci for a competition, it also carried the Goddess of Liberty, but modernised for the Art-Deco style of the day. Equally, the eagle on the obverse face was changed, embracing a similar style with its ‘sunburst’ rays in the background. It was the last US Dollar coin struck for circulation using silver..

In 2021, the United States Mint struck new silver versions of both coins for the centenary, bearing the original design, and these will continue on an annual basis from 2023. However, the US Mint isn’t the only one marking the anniversary. Glines & Rhodes, a US dealer that traces its roots back to 1915, has issued a limited run of 1,921 new one-ounce silver coins. It takes elements from both the Morgan and Peace Dollars. The eagle side has the basic design of the Peace Dollar, but modified to have the outstretched wings and arrows in the claws of the earlier Morgan Dollar.

The reverse face is all new, and will be a little more controversial with traditionalists. It depicts Liberty in the two different forms, celebrating the centenary with a champagne toast. The background is classic Art Deco, as is the font used, and the clothing and drinks have been gilded. The heads of the two are instantly recognisable with the two 1921 coin effigies.

It’s a Smartminted coin issued for the Cook Islands, so clearly a BH Mayer strike, likely produced by CIT in Liechtenstein, so a peerless background that bodes very well for quality. It comes presented in one of those neat ‘floating latex’ frames and is available now for around $225 USD.